Is the U.S. Headed Toward Bankruptcy?

Written By: Emil FleysherSeptember 8, 2012,

Presidents have been warning for decades of the dangers of this country’s debt and deficits. But the big question is why this time is different? Is this the year we finally start to get our nation’s finances in order? Or, is the U.S. headed towards bankruptcy?

One argument is that with the current President and Congress, it does not seem likely. Either way, it is going to be a very challenging road. With the nature of Republicans and Democrats, there will have to be a compromise to get the recovery going. There most likely will not be a grand bargain. From political debates, it is easy to see how politicized everything has become. The great thing about this country is that notwithstanding the best efforts by both political parties, somehow we continue our way forward. And we’re going to come out of this crisis and we’re going to have an economic recovery. The U.S. are not going to experience bankruptcy.

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